I don’t know a single person making 7 figures

[Anonymous]

How do you know what people make? I'm in finance and I earn 7 figures. Pretty sure no one I know, aside from my family, has any idea.

[Anonymous]

It's all your circle. I am a partner at our finance firm and we all make 7 figures. so to me it's fairly normal.

[Anonymous]

I know a couple of people who probably make that kind of money but I don't know for sure. Big law partners. One is grounded and nice. The other is the stereotypical jerk lawyer.

[Anonymous]

Almost everyone we know makes 7 figures. It’s your circle and profession.

[Anonymous]

The only person I know is C-suite in a financial company.

[Anonymous]

Anonymous wrote:Lots of lies around here. I’m a lawyer and I’ve noticed—many times—that posts from people claiming to be lawyers don’t make sense. They say/claim things that no lawyer would say or claim.

There are definitely some dumb lawyers out there.

[Anonymous]

Anonymous wrote:How is there such a large concentration of people earning 7 figures on this site? I work in tech. There isn’t a single person I interact with making over 1M/year. Maybe a few people I’ve been in meetings with 2-3 levels above me but nobody who I interact with regularly. Almost every thread someone mentions they or their DH earning 7 figs. Blows my mind that there can be this many people in DC on that income. Maybe it’s just a handful of people posting incessantly about their 7 figure HHI that gives them tingles?

I'm sure you do but don't realize it.

[Anonymous]

Anonymous wrote:Almost everyone we know makes 7 figures. It’s your circle and profession.

That is a really niche circle. Also it’s clearly not everyone you know! You know a lot of people who make far less, you just don’t consider them to be people you know.

[Anonymous]

If you live in DC or a “nice” suburb (ie SFHs in the $1.5MM+ range), you know plenty. Making a million dollars ain’t what it used to be.

I’m a biglaw partner and most of my neighbors don’t know it. Let alone understand what that means in terms of income (except for the other lawyers). Especially post-2020 since I mostly bum around in jeans and a t shirt and spend a lot more time outside, playing with my kids, running errands.

[Anonymous]

Anonymous wrote:Almost everyone we know makes 7 figures. It’s your circle and profession.

This. It’s silly when people come on here and say others are lying because they dont know anyone who makes more than $500k or 1 million a year. The same could be said of very poor people. I dont know any, therefore they must not exist. You would know plenty of wealthy people if 1) you belong to a country club 2) you send your kids to an expensive private 3) summer or winter in exclusive areas. I do all three. So OP, do you do any of these things?

[Anonymous]

Anonymous wrote:How is there such a large concentration of people earning 7 figures on this site? I work in tech. There isn’t a single person I interact with making over 1M/year. Maybe a few people I’ve been in meetings with 2-3 levels above me but nobody who I interact with regularly. Almost every thread someone mentions they or their DH earning 7 figs. Blows my mind that there can be this many people in DC on that income. Maybe it’s just a handful of people posting incessantly about their 7 figure HHI that gives them tingles?

If you work in tech, you may not realize that the guy that runs a start-up may only draw a $200,000 salary but has a $250MM net worth on paper. My kid works for an AI start-up that just raised $100MM at a $1.1BN pre-money valuation and his CEO owns 20%.

It could all evaporate of course...or it could turn into a fabulous amount of real money.

[Anonymous]

I worked in a hospital for many years and upper management all made 7 figures.

[Anonymous]

Anonymous wrote:I’m a law firm equity partner in DC. Our firm has around 50 equity partners, and over 1/3 of us make over $1M. We are far from the biggest or most profitable firm in DC. And there are so many firms. If you don’t know DC big law, you don’t understand how many well paid partners there are. And yes as PP notes that’s not the only industry people make big money, but it’s a significant factor in DC.

+1. Bingo. People blindly think that tech is where the money is. It is not, it is high paid lawyers who are outstanding at what they do, and have equity in their firm. If you you are a lawyer, but not great at what you do (and therefore you have no equity) you are SOL.

OP, where do you live? In certain communities, inevitably everyone is high paid.

[Anonymous]

Anonymous wrote:

Anonymous wrote:How is there such a large concentration of people earning 7 figures on this site? I work in tech. There isn’t a single person I interact with making over 1M/year. Maybe a few people I’ve been in meetings with 2-3 levels above me but nobody who I interact with regularly. Almost every thread someone mentions they or their DH earning 7 figs. Blows my mind that there can be this many people in DC on that income. Maybe it’s just a handful of people posting incessantly about their 7 figure HHI that gives them tingles?

If you work in tech, you may not realize that the guy that runs a start-up may only draw a $200,000 salary but has a $250MM net worth on paper. My kid works for an AI start-up that just raised $100MM at a $1.1BN pre-money valuation and his CEO owns 20%.

It could all evaporate of course...or it could turn into a fabulous amount of real money.

+1. People in this area are wildly presumptuous and inaccurate about who makes what. Tech people, on the whole, are drones.

[Anonymous]

Anonymous wrote:I know a couple of people who probably make that kind of money but I don't know for sure. Big law partners. One is grounded and nice. The other is the stereotypical jerk lawyer.

Most equity partners I know are quite grounded and kind. Most peon lawyers are just perturbed, frustrated and chasing their tails.